“The champagne is Perrier Jouet, Belle Epoque rosé 2007, which is about £150 a bottle, and we’ll go through 120 to 150 bottles in the evening.

“We also serve Whispering Angel, the world’s number one rosé at about £150 a bottle.

“We always serve at least a couple of kilos of caviar at each party, sometimes four or five and the price is in the thousands per kilo - and that’s when we buy it wholesale. I can never afford to buy caviar at a restaurant because it’s too expensive.”

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As well as the party itself, Nicholas and Annabelle - who featured on Channel 4's How D'You Get So Rich last night - lay on transport to the yacht and guests travel in style.

He said: “This year in Monaco we have a Silver Arrows Marine, made by Mercedes Benz, which is what Lewis Hamilton was driving last year to get to and from the track. It’s a £2.5million GT Superboat and it's the first of its type in the world.

“We pick up our guests and take them for a cruise around all the amazing superyachts and then we take them to our yacht and they can sit and drink wine and watch the Monaco Grand Prix literally 50 feet away from their eyes. It’s a pretty amazing experience.”

Matt LeBlanc with a female companion and a large bottle of champagne at one of Nicholas's parties

Nicholas, a former Olympian, counts Prince Albert of Monaco amongst his close friends and his parties are frequented by celebrities including Matt LeBlanc, Gerard Butler and sprinter Michael Johnson as well as super rich businessmen.

But being a famous name isn’t necessarily a free ticket on board.

He revealed: “A lot of celebrities are cool, interesting people but some have a big attitude and think they can just rock up.

“They’re not all millionaires and billionaires, they are just interesting people.”

You can also buy a four-day package to Monaco Grand Prix, which will set you back £12,800 a couple and give you the chance to watch Formula 1’s biggest event from the luxurious setting of a £10million yacht.

“We have about 60 or 70 guests on board for a party. It’s a 140-foot, five-bedroomed yacht and it’s berthed on Quay Kennedy, which is the most sought after post.

“There are only 15 berths in Monaco that overlook the race track and they are all in Quay Kennedy so there are 150 applications to berth there every year, and we have it every year.”

Nicholas, who competed in the Olympics in Hungarian bobsleigh team as a young man, grew up around motor racing and started the business with Annabelle after spending time in Monaco.

“I started with the Asprey jewellery company, back in 1996, when they sponsored the Ferrari Formula 1 team and I was entertaining their amazing guests Lords and Ladies, Princes, Sheiks and all sorts," he said.

But many of the My Yacht nights are also charity events, which typically cost around £2,600 per couple to attend.

Nicholas said: “We’ve raised hundreds of thousands of pounds over the last 12 years for all sorts of incredible causes.

“We work a lot with Prince Albert II foundation in Monaco and military charities in the US, including the Blue Angels Foundation, Disabled American Veterans, Operation Healing Forces for soldiers who are wounded.

“We also donate our Monaco packages, which are worth £12,800 per couple, to the charities so they can raise money and some have raised up to £50,000 so there is a serious side to this as well. It’s not just rich people getting drunk on a yacht.”